Modiv Industrial (MDV) director reports DRIP share acquisitions

Rhea-AI Filing Summary

Modiv Industrial, Inc. (MDV) filed a Form 4 reporting director transactions. On 10/15/2025, the reporting person acquired shares via dividend reinvestment transactions exempt under Rule 16a-11.

Acquisitions included: Class C common stock 34.7895 shares at $14.57, with 10,406.2275 shares beneficially owned following the transaction; Class C common stock 37.1259 shares at $13.59, with 10,443.3534 shares beneficially owned following the transaction; and Series A Cumulative Redeemable Perpetual Preferred Stock 40.6764 shares at $25.49, with 2,249.3494 shares beneficially owned following the transaction. Ownership is reported as direct.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Gingras Christopher Raymond

(Last) (First) (Middle)

1500 NORTH GRANT STREET, #5609

(Street)

DENVER CO 80203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MODIV INDUSTRIAL, INC. [ MDV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK, CLASS C	10/15/2025		J(1)		34.7895	A	$14.57	10,406.2275	D
COMMON STOCK, CLASS C	10/15/2025		J(1)		37.1259	A	$13.59	10,443.3534	D
Series A Cumulative Redeemable Perpetual Preferred Stock	10/15/2025		J(1)		40.6764	A	$25.49	2,249.3494	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares acquired in dividend reinvestment transactions exempt from Section 16 pursuant to Rule 16a-11 are being reported voluntarily on this Form 4.

Remarks:

	/s/ John Raney, by Power of Attorney for Christopher R. Gingras	10/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did MDV’s director report on Form 4?

The director reported dividend reinvestment acquisitions of Class C common and Series A preferred shares on 10/15/2025.

How many MDV Class C common shares were acquired and at what prices?

Two acquisitions: 34.7895 shares at $14.57 and 37.1259 shares at $13.59.

What is the director’s Class C common share ownership after the transactions?

Following the reported transactions, beneficially owned amounts are listed as 10,406.2275 and 10,443.3534 shares (direct ownership).

What preferred shares were acquired by the MDV director?

Series A Cumulative Redeemable Perpetual Preferred Stock: 40.6764 shares at $25.49, with 2,249.3494 shares beneficially owned after the transaction.

Were these transactions part of a dividend reinvestment plan (DRIP)?

Yes. The filing notes shares were acquired in dividend reinvestment transactions exempt under Rule 16a-11.

Is the ownership direct or indirect?

All reported holdings are shown as direct (D) ownership.